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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal

Libya ruling set to cast fresh light on Goldman practices

Posted on 17 October 2016

High Court to decide on $1bn wealth fund suit claiming bank exercised undue influence. Goldman Sachs will find out today whether it has defeated a $1bn lawsuit brought against it by the Libyan Investment Authority in a case that is set to once again shine a spotlight on the US bank’s activities.
The ruling from the UK’s High Court brings to a close a trial in which it was claimed Goldman exploited the LIA’s limited financial experience while its bankers sought to win lucrative business from the sovereign wealth fund by offering its officials lavish corporate hospitality — and in one case procuring prostitutes……………………………………..Full Article: Source


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